Obama slams GOP 'Pledge' as giveaway to millionaires, Wall Street

[jefferson_dem]

Obama slams GOP 'Pledge' as giveaway to millionaires, Wall Street
By Mike Lillis - 09/25/10 06:00 AM ET

With five weeks remaining before November's midterms, President Obama is slamming the Republicans' legislative agenda as a gift to the wealthy at the expense of the middle class.

The GOP's "Pledge to America," Obama said Saturday during his weekly radio address, promotes "the very same policies that led to the economic crisis in the first place."

"It is grounded in the same worn-out philosophy: cut taxes for millionaires and billionaires; cut the rules for Wall Street and the special interests; and cut the middle class loose to fend for itself," Obama said.

"That’s not a prescription for a better future. It’s an echo of a disastrous decade we can’t afford to relive."

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Extending the Bush tax cuts, for instance, is estimated to cost $3.7 trillion over the next decade — well above the $1 trillion the Republicans hope to recover through undefined cuts in discretionary spending.

The discrepancies haven't been overlooked by Obama, who wants to extend the Bush tax cuts for middle- and upper-middle class families, but not for those earning more than $250,000 a year. Obama's plan is estimated to cost about $700 billion less than the GOP's across-the-board extension.

"For all their talk about reining in spending and getting our deficits under control, they want to borrow another $700 billion, and use it to give tax cuts to millionaires and billionaires," the president said Saturday. "On average, that’s a tax cut of about $100,000 for millionaires."

Obama also blasted the Republicans for pushing to repeal new insurance protections for patients and newer financial safeguards for consumers — evidence, the president said, that GOP leaders "want to put special interests back in the driver’s seat in Washington."

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http://thehill.com/homenews/administration/120891-obama-slams-gop-pledge-as-giveaway-to-millionaires-wall-street

MORE HERE - http://www.whitehouse.gov/blog/2010/09/25/weekly-address-crossroads-economy

[Uben]

1. Millionaires don't need tax cuts

And yeah, I am a millionaire, so it's not class warfare. I believe in paying one's fair share to make this country great, and that does not include greed. I don't live in a mansion and have never owned a new car. I don't take lavish vacations. That's how I saved my money. Now, that I'm retired and secure, maybe I'll start doing some things and spending some of what I have saved over the years, maybe not. It's hard to change habits, and I am perfectly happy to live the way I have been. I give money and time to charities. That makes me feel better than spending a weekend in the Hamptons or chartering a fishing boat on the coast. And it helps PEOPLE!

[impik]

2. He's kicking their ass again

http://www.youtube.com/watch?v=5dgLNgHQ5yI

[Exilednight]

4. Obama should be kicking Harry's ass in order to get this vote done ASAP ................

instead of waiting until after the elections.

This is a political calculation by Rahm and the rest of the DLC crew in an attempt to rally the support of the base, but it's misguided step in the wrong direction.

[flpoljunkie]

3. 'GOP leaders want to put special interests back in the driver's seat in Washington.'

Good one, Mr. President! And, it could not be more true!